DUBLIN, CA (August 25, 2005) FrontRange Solutions(Company
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In addition to an increase in revenue, FrontRange also reported an operating profit of $2.4 million, an increase of 15 percent over the three months ended June 30, 2004.
"Our fiscal Q1 results are a continuation of our solid financial performance, especially considering that this past quarter is traditionally our weakest quarter. FrontRange has now produced seven straight quarters of revenue and profitability growth. We are committed to building a company that delivers steady and sustained growth," said FrontRange CEO Michael McCloskey. "Particularly encouraging was the 15 percent profit growth, while making significant investments in our global services delivery and implementation capability as well as maintaining a healthy R&D spend rate at over 16 percent of revenue."
"Notwithstanding the difficult market conditions, we have seen solid momentum with our new product offerings," McCloskey continued. "Since the release of our new ITSM product in January 2005, we have signed 74 customers to date. Additionally, our new IP-based contact center product has shown positive traction with 45 customer signings since inception. Our investment in global services delivery and implementation capability will allow us to deliver world-class, best-of-breed enterprise services to our clients."
FrontRange continues to release significant updates to its GoldMine®, HEAT® and FrontRange Contact Center products. Additionally, its major new product, IT Service Management (ITSM), was released at the end of January 2005.
"Our customers have embraced the improvements we've made to HEAT and GoldMine, as well as new products like IP Contact Center and IT Service Management that complement HEAT and GoldMine," said Kevin J. Smith, FrontRange vice president of products. "The combined product offerings were designed in response to the needs of our customers and partners. As a result, these solutions enable our customers to proactively address critical initiatives including corporate governance, IT best practices, ITIL and Sarbanes Oxley. Beyond the strong broader market share, we are now the leading provider of distributed ITIL-enabled solutions for the US."
Highlights since the last FrontRange financial release:
FrontRange adds new customers: FrontRange added 329 new customers during the period: 221 new GoldMine Corporate Edition customers; 66 new customers for its HEAT product line; 11 new IP Contact Center customers; and, 31 new customers for its ITSM product. This includes 199 new customers in North America, 86 in EMEA, and 44 in Asia Pacific.
Customer wins for the period include: North America -- Miami-Dade County Public Schools, NCCI, Bronson Hospital, Winston & Strawn, LLP, Morgan, Lewis & Bockius, LLP, Carlyle Group, Software House International, Resolve Corporation, US DOT/RITA/Volpe Center, Adventist HealthCare, Nichols Aluminum, State of North Dakota, Gallup Organization, Salt Lake Community College, Calgary Regional Health Authority, Apache Corporation, Fremont Investment & Loan, MedQuist, Inc., Panduit Wiring & Communications, Forrest General Hospital, L & S Associates, Inc.; Asia Pacific -- Industrial and Commercial Bank, Neusoft Park Industrial Development Co., Ltd., SurfControl; South Africa -- Brandhouse Beverages, Manguan Local Municipality, National Treasury, Department of Land Affairs, Metrorail Witwatersrand, Enterprise Connection, Africon, E.E. Publishers; Europe -- ItalCementi, Northern Constabulary.
Market share: FrontRange Solutions held significant market share in 2004 in IT Service Desk solutions for Enterprise Management markets. Based on new license revenue, FrontRange is identified as a Global market leader in the "IT Service Desk for Enterprise Management" market according to a Gartner, Inc., report entitled "Market Share: Enterprise Management, Worldwide, 2004."
FrontRange launches new IP Contact Center 5.0: FrontRange IP Contact Center 5.0 (IPCC) is the newest addition to the Communication Management solution family. The new version of FrontRange's Voice Over Internet Protocol-based (VoIP) software suite features Quality Management and integration with other FrontRange product families, including the company's award-winning HEAT, GoldMine Corporate Edition, and the new ITSM modules.
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About FrontRange Solutions
FrontRange Solutions develops award-winning software and solutions used by more than 130,000 companies and over 1.2 million users worldwide to manage a wide variety of business relationships and provide exceptional service. FrontRange product families, designed specifically for small-to-medium-enterprise (SME) and distributed enterprise organizations include: GoldMine® for business relationship management, team-based contact management and sales force automation solutions; IT Service Management (ITSM) with HEAT® and ITIL standards-based modules for complete service management; Communication Management, including IP Contact Center (IPCC) for reduced telephony costs and increased agent productivity, streamlined customer service and communications; and Infrastructure Management (IM), which provides the ability to optimize the full lifecycle of a company's assets. Customers representing 44 percent of the Fortune 100 and 76 percent of the FTSE 100, include Coca-Cola, Shell Oil, Prudential Securities, Électricité de France, Mack Trucks, Campbell Soup, Avaya, Bechtel Corp, Bank of America, and Turner News Network. For more information, call (800) 776-7889 or visit www.frontrange.com.
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